January 21, 2009

On the Marian Finucane show

Posted in Audio & Podcasts · 5 comments ·

David McWilliams was on the RTE Radio 1 Marian Finucane show last weekend (Sat 17th Jan), discussing his formative years learning Russian just outside Moscow, and his experiences in Israel and USA as well as the current economic conditions.

The interview is quite lengthy and runs to almost an hour. To hear it, click on this link on the RTE website (requires Real media player).

  1. David,I enjoyed listening to your tale. With your wide experience in dealing with so many economies in trouble in so many parts of the world, it would be a blessing if you could become Minister for Finance and relieve poor Brian Lenehan of his poisoned Fianna Fail chalice of unemployment,ruin, and bankruptcy which his party have delivered for many of the ordinary decent folk in the land of Ireland.
    (The pay is good too-probably a sight better than whatever you are getting from whoever- at the present time !)
    Alas, like working in the Civil Service, you would have to wait in a very long line for the job-and competence or initiative does not count for skipping the queue.!

  2. goinghome

    The diagnosis of what goes on in Government departments is very keen and about the most accurate I’ve ever heard. Whether there’s a doctor in the house qualified and fearless enough to administer the appropriate prescription is another matter.

  3. With the National Development Plan 2007/2013 ,Transforming Ireland with this 184 Billion Euro budget, is this still on course or doe the banking bailout stop this ? If there is a risk of this being stoped and affecting the next generation and onwards then we need to ask questions about Brian Cowen and Charlie Mc Creevy, who were responsible with Finance since 1997 so have alot to answer? and now we need to be sure the right people are selected to run and di vest sensibly and obtain the correct return/ valuations , for the taxpayer money from this Anglo Irish Nationalisation. By selecting their friends like Donal O Conor, Daly , Dukas, and now Maurice Keane,to be on the board, should raise serious questions rather than be complacent.This is a serious amount of committment by the state , probably as much as 40 Billion yes 40 Billion Euros, and so if mistakes are again made, and friends are favoured over taxpayers money then many are to blame for not riasing a sensible protest to so much complacency. I do hope this department will be forceful in raising more questions , so the National Development programme is not derailed before it ever truly started!! I understand the Finance Ministry is listening to Merrill Lynch for advice / and obviously paying for it, let’s hope we do not pay the real price , which wrecked their respective company , so it had to be gobbled up by someone else!and then now sack that CEO ! Also it was Merrill who cleverly advised RBS on the wonderful ABN , which truly sank the Scottish bank ! wow what wonderful advisors!! who reaped 100′s of millions of fees for billlions of destructiuon and to be saved by UK taxpayers money! do we need another Irish repeat show !!

  4. “The average person must demand a new regime that has absolute no connection to the old regime. That is what we mean by being courageous. We have to be logical.”

    Is this plausible?

    1. Take money earmarked for bailouts.
    2. Capitalise a couple of new internet-only banks on the Kiwibank model.

    1. Clean new banking system
    2. New banks are free of unquantifiable toxic debts.
    3. New banks compete to lend to creditworthy individuals and businesses.
    4. Shakes the system out of its current state of ‘reckless caution’
    5. No moral hazard. Its up to the pre-existing banks to ’sink or swim’


  5. From the Wall Street Journal today


    Everyone agrees that the United States urgently needs a few good banks. Turning bad banks into good banks is a difficult and risky way to get them. It’s simpler and safer to start entirely new banks.

    In this context, “good” means a bank with assets and liabilities that are easy to value using market prices. At a good bank, officers, regulators and investors can be confident about the value of the bank’s capital.

    More: http://online.wsj.com/article/SB123388681675555343.html


    Similar from the FT last week:



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